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<ul><li>A Chinese developer of beleaguered projects across the U.S. has found a potential buyer for a stalled Los Angeles complex where it spent $1.2 billion before running out of money.</li><li>China Oceanwide Holdings Ltd. said a “purchase and sale agreement is now under negotiation” between the company and the potential buyer, according to a filing in Hong Kong Friday.</li><li>The company faces $220 million in lawsuit liabilities on the LA project, where a partially built three-tower hotel and residential complex has been in limbo for years</li></ul>

A Chinese developer of beleaguered projects across the U.S. has found a potential buyer for a stalled Los Angeles complex where it spent $1.2 billion before running out of money.China Oceanwide Holdings Ltd. said a “purchase and sale agreement is now under negotiation” between the company and the potential buyer, according to a filing in Hong Kong Friday.The company faces $220 million in lawsuit liabilities on the LA project, where a partially built three-tower hotel and residential complex has been in limbo for years

China Oceanwide Has Potential Buyer for $1.2 Billion LA Project

Hong Kong

China Oceanwide Holdings Limited primarily engages in property investments. Through its subsidiaries, the company used to manufacture and trade toys on an OEM (Original Equipment Manufacturer) basis. The Company also operates technology business, and licensing and sourcing business.

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China Oceanwide Holdings (715 HK)

China Oceanwide Has Potential Buyer for $1.2 Billion LA Project

A Chinese developer of beleaguered projects across the U.S. has found a potential buyer for a stalled Los Angeles complex where it spent $1.2...

Caixin Global

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